Company Registration No. 09575325 (England and Wales)
Slingshot Six Limited
Unaudited accounts
for the year ended 31 May 2021
Slingshot Six Limited
Unaudited accounts
Contents
Slingshot Six Limited
Company Information
for the year ended 31 May 2021
Company Number
09575325 (England and Wales)
Registered Office
380A New Hythe Lane
Larkfield
Maidstone
Kent
MR20 6RZ
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Slingshot Six Limited
Statement of financial position
as at
31 May 2021
Tangible assets
3,398
4,531
Cash at bank and in hand
166,411
158,436
Creditors: amounts falling due within one year
(133,513)
(121,693)
Net current assets
128,897
94,161
Total assets less current liabilities
132,295
98,692
Creditors: amounts falling due after more than one year
(50,000)
(50,000)
Called up share capital
100
100
Profit and loss account
82,195
48,592
Shareholders' funds
82,295
48,692
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 January 2022 and were signed on its behalf by
Andrew Harris
Director
Company Registration No. 09575325
Slingshot Six Limited
Notes to the Accounts
for the year ended 31 May 2021
Slingshot Six Limited is a private company, limited by shares, registered in England and Wales, registration number 09575325. The registered office is 380A New Hythe Lane, Larkfield, Maidstone, Kent, MR20 6RZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing Balance
Computer equipment
25% Reducing Balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Slingshot Six Limited
Notes to the Accounts
for the year ended 31 May 2021
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2020
5,057
2,308
7,365
At 31 May 2021
5,057
2,308
7,365
At 1 June 2020
1,954
880
2,834
Charge for the year
776
357
1,133
At 31 May 2021
2,730
1,237
3,967
At 31 May 2021
2,327
1,071
3,398
At 31 May 2020
3,103
1,428
4,531
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
91,521
51,454
Accrued income and prepayments
(522)
964
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
33,227
30,648
Taxes and social security
25,537
21,335
Loans from directors
4,361
4,734
7
Creditors: amounts falling due after more than one year
2021
2020
8
Average number of employees
During the year the average number of employees was 3 (2020: 3).